Argosy boosts first-half profit to record $127m

Chair Jeff Morrison says Argosy is sticking to its 6.55c dividend forecast (Image: Supplied)

Tue, 23 Nov 2021

Listed property vehicle Argosy Property's net profit climbed 11% to a record $127 million in the six months through September on the strength of valuation gains across its mixed commercial portfolio.Net property income climbed 5.1% to $53.1m, with a positive contribution particularly from its Mt Richmond industrial sites, purchased for $76m in March. The firm provided for $800,000 in rent abatements to tenants during the period as a result of covid related trade interruption.Adjusted funds from operations, a key measure for investors,...

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